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Mondi Ltd. profit misses consensus by 22.6% in H1

Mondi Ltd. said its normalized net income for the first half was 54 euro cents per share, compared with the S&P Capital IQ consensus estimate of 70 cents per share.

EPS decreased 5.2% year over year from 57 cents.

Normalized net income, which excludes unusual gains or losses on a pre- and after-tax basis, was €260.6 million, a decrease of 5.2% from €274.9 million in the year-earlier period.

Total revenue increased 8.2% on an annual basis to €3.58 billion from €3.31 billion, and total operating expenses rose 10.9% year over year to €3.09 billion from €2.79 billion.

Reported net income fell year over year to €350.0 million, or 72 cents per share, from €362.8 million, or 75 cents per share.